Wise Expands US Product Suite with New Interest and Stock Investment Options
Wise has announced a significant expansion of its US product offerings by introducing 'Wise Interest' and 'Wise Stocks.' These new features allow both individual and business customers to earn returns on their USD balances through money market funds or S&P 500 index funds, respectively. A key differentiator is the liquidity provided; unlike traditional investment vehicles that may lock up capital, these products allow users to maintain instant access to their funds for sending and spending. The launch marks the first time Wise has operationalized its US broker-dealer license via Wise US Assets Inc. This move follows a period of rapid growth for the company, with global customer holdings increasing 40% to $39 billion in the last financial year. By integrating investment capabilities directly into existing balances, Wise aims to increase customer retention and capture more value from the growing amount of capital held on its platform.
Topics: brokerage services fintech expansion interest-bearing accounts product launch